Tom Corbett on Social Security

Resolve our pension crisis for state employees, without cuts

The entire system of state pensions has become a mountain of debt, and the avalanche could bury our economic growth, swallow up benefits for our elderly, education for our children, and transportation for our economy.

We cannot let that happen.
We cannot allow hard-working teachers and state employees to be threatened by the loss of their pensions. Resolving our pension crisis will be the single most important thing we do.

I will not allow any cuts to any benefits of our retirees.
Let me repeat that: no cuts to any retiree benefits. They earned their retirement. They earned their guaranteed security. Nor will I allow any pension dollars already earned by any current employee to be diminished in any way.

What we need to do, going forward from this time, is to create a new 401(k)-style retirement benefit for our future employees consistent with the retirement packages currently enjoyed almost universally by private sector employees.